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what a joke. >> let them raise taxes and see how many hollywood democrats back the next election cycle. >> we would do with the cliff 2009 now we're grabbing them by the hand. brace for the impact. which is better for the future? go over the cliff? >> you hit the nail on the head. it is a bad choice risk armageddon now or later? if it is a bad deal it does not matter this year or next year it will cost over many years. so eager to avoid a cliff we do nothing to address that created the cliff. stimulus that did not work and did not pan out. so we feed the beast. more taxes and precious little to show with spending. the does not ignore the fact we have more of a cliff that is what is at issue. my fear is rushing toward the wrong deal. on creating more revenue for the government than ever remotely taming of its size. that is why we will still get downgraded. credit ratings
what a joke. >> let them raise taxes and see how many hollywood democrats back the next election cycle. >> we would do with the cliff 2009 now we're grabbing them by the hand. brace for the impact. which is better for the future? go over the cliff? >> you hit the nail on the head. it is a bad choice risk armageddon now or later? if it is a bad deal it does not matter this year or next year it will cost over many years. so eager to avoid a cliff we do nothing to address that...
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george bush lost an election in '92. he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waiting for those $2 in spending cuts. now the president is saying to live in give you two and a half to one. it's time the democrats and the president stepped up and cut spending. gerri: to that point. i want you to respond to what the white house had to say in response to the republicans offer and then go to michael's point about what you will actually get later. here is what dan pfeiffer said. it promises to lower rates for the wealthy and stick the middle-claas with the bill. we could do it pinocchio test. is that true or false? >> completely false. they want to keep all the race the same. now lower than for anybody. and maintaining the status quo on rates. the deductions are actually targeted for upper-income people. the democrats, the white house, some left wing groups that on behalf of the white house imagined how they would design the republican plan and then t
george bush lost an election in '92. he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waiting for those $2 in spending cuts. now the president is saying to live in give you two and a half to one. it's time the democrats and the president stepped up and cut spending. gerri: to that point. i want you to respond to what the white house had to say in response to the republicans offer and then go to michael's point about what you...
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then he won the election. now he wants to increase it to over one half trillion. he has double down on all of these things. if you go back historically in this whole program, you might remember roy reagan, $3 in spending cuts for every dollar in new taxes. we get the taxes but ronald reagan never get the spending cuts. orge bush lost an ection in '92. he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waitin for those $2 in spending cuts. now the present is saying to live in give you two and a half to one. it's time the democrats and the president stepped up and cut spding. gerri: to that point. want you to respond to what the white house had to say in response to the republicans offer and then go to michael's point about what you will actually get latr. here is what dan pfeiffer said. it promises to lower rates for the wealthy and stickhe middle-claas with the bill. we could do it pinocchio test. is that true or false? >> completely false. they want to keeall the race the same. now lower than for
then he won the election. now he wants to increase it to over one half trillion. he has double down on all of these things. if you go back historically in this whole program, you might remember roy reagan, $3 in spending cuts for every dollar in new taxes. we get the taxes but ronald reagan never get the spending cuts. orge bush lost an ection in '92. he raised taxes on the democrats promised him $2 in spending cuts for every dollar in new taxes. george bush is still waitin for those $2 in...
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the second thing is the uncertainty of the election which held back business investment. for quarter definitely will be weak but the next year i think 2.5 to 3% growth. >> thank you. dave: one of the smartest people in america, no doubt. thank you, good to see you. the clock is ticking away to major tax hikes for everybody. john boehner saying there is no progress to report. so what is going on inside the beltway? we will head there to try to find out. brian led that tells us how the new 60-40 portfolio should look. [ woman ] ring. ring. progresso. your soups are so awesomely delicious my husband and i can't stop eating 'em! what's...that... onyour head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. . . . .. david: come january 1st, no matter which tax plan is put in place the federal government will still spend trillions of dollars each year. lauren: we talked taxes. now let's former cbo director says these cuts fail to control the greatest deficit challenge, federal health care spe
the second thing is the uncertainty of the election which held back business investment. for quarter definitely will be weak but the next year i think 2.5 to 3% growth. >> thank you. dave: one of the smartest people in america, no doubt. thank you, good to see you. the clock is ticking away to major tax hikes for everybody. john boehner saying there is no progress to report. so what is going on inside the beltway? we will head there to try to find out. brian led that tells us how the new...
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david: if, we're a month after the election. there are patterns after the election. are we fitting that pattern this year? >> yeah. the election year was up which is a sign of incumbent winning. we had a weak november after incumbent win. very typical. remains to seen if december fall follows that pattern. i think we're --. >> what about the year after an election? >> as i said before that is the worst of the four-year cycle. however a little better for democrats. they tend to spend more time debating and getting their policy initiatives together where republicans are more conservative in ideology. come out a little quicker. post-election years up five, down one for republicans since world war ii. i mean for democrats, excuse me. >> jeff hirsch, stock traders almanac, editor-in-chief. david: has commodity traders almanac. you have it all covered. >> thank you. liz: who is the most overpaid actor according to the forbes when looking at box-office returns versus the big bucks they're paid? is it brad pitt? is it eddie murphy or is it adam sandler? we have the answer co
david: if, we're a month after the election. there are patterns after the election. are we fitting that pattern this year? >> yeah. the election year was up which is a sign of incumbent winning. we had a weak november after incumbent win. very typical. remains to seen if december fall follows that pattern. i think we're --. >> what about the year after an election? >> as i said before that is the worst of the four-year cycle. however a little better for democrats. they tend to...
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we got seven weeks between election day and the end of the year. three of those weeks have been wasted with the nonsense. >> okay. you heard them, the first time in two decades now, acknowledge they want revenues up as the balanced plan, a good first steppedded, but they have to say what they do operates and revenues. that's hard for republicans. >> runs of billions of spending cuts, tax increases begin in less than a month, and with the negotiations, two sides are about where they started. still, aids say it's early to be moving to an agreement with plenty of time for each side to extract the best deal possible before selling it to the parties and selling position to voters. with that, president obama is hosting a twitter question-and-answer next hour. back to you. >> signs on for that. rich, thank you. >> time is returning out on the fiscal cliff, and the next guest thinks there's a deal brewing, optimistic. that's david, adviser's chairman and chief investment officer. what do you think is the key to getting a deal done? do you think something's
we got seven weeks between election day and the end of the year. three of those weeks have been wasted with the nonsense. >> okay. you heard them, the first time in two decades now, acknowledge they want revenues up as the balanced plan, a good first steppedded, but they have to say what they do operates and revenues. that's hard for republicans. >> runs of billions of spending cuts, tax increases begin in less than a month, and with the negotiations, two sides are about where they...
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he supported obama totally in the election. without clinton i don't think that obama would have been reelect and that's what he did for him. and what clinton could do in the future, i don't know. i don't know why obama is so insistent on higher tax rates except it fits his rhetoric. stuart: at the end of the day, i think that the republicans will actually submit on the issue of higher tax rates. it may be just tax rates higher for those making half a million a year, i think they'll retreat a little bit. >> i think, too, what i'd like to see the republicans do, i'd like to see them pass a bill extending tax cuts below $250,000 and everyone agrees those should be put through and then put through another bill that extends the tax cuts on those $250,000 and above and let the democrats take ownership because you know, they're going to be held responsible for the economic performance of 2013 and come 2014, you can actually get a political change that might make a difference. stuart: we'll wait and see on that one. art laffer, always
he supported obama totally in the election. without clinton i don't think that obama would have been reelect and that's what he did for him. and what clinton could do in the future, i don't know. i don't know why obama is so insistent on higher tax rates except it fits his rhetoric. stuart: at the end of the day, i think that the republicans will actually submit on the issue of higher tax rates. it may be just tax rates higher for those making half a million a year, i think they'll retreat a...
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the election is done, what will we hear tomorrow? >> i think we are going to hear very tepid job growth, they will likely blame it on sandwich give them a good excuse right now. i think the market will react like it is today. everyone is this availing the economic data and the fiscal cliff. what is more important is how the jobs data affect negotiations on the fiscal left. it is up for jobs report tomorrow it will affect the negotiations and there will be urgency to get something done because everyone concerned about getting jobs. it nicole: everyone is concerned about jobs. back to you. ashley: thank you so much. back in 15 minutes. like a rudderless ship floating in the ocean, the markets description of the day. tracy: poetic. this is not. housing and urban development secretary shaun donovan on hot seat on capitol hill is grilled on the f h a and whether taxpayers foot the bill for multibillion-dollar bailout. gerri willis has this story. we have been waiting for this. gerri: that is will be looking at. off the top of my head. sha
the election is done, what will we hear tomorrow? >> i think we are going to hear very tepid job growth, they will likely blame it on sandwich give them a good excuse right now. i think the market will react like it is today. everyone is this availing the economic data and the fiscal cliff. what is more important is how the jobs data affect negotiations on the fiscal left. it is up for jobs report tomorrow it will affect the negotiations and there will be urgency to get something done...